Cost Management Services

Cost Management Services Cost Management Services
Cost Management Services
Cost Management Services Cost Management Services Cost Management Services

OVERVIEW

Cost Management is not simply cost estimating of your project. Our Professional Quantity Surveyors immerse themselves in the life of your project from the start to identify not just raw scope but also how the overall design intent and client goals might affect the budget. We don’t count; we collaborate. We have a proven track record of saving our clients money, often at a rate that is substantially more than our fee for providing the service.

KEY SERVICES

Feasibility Studies & Concept Estimates
Cost Planning/Budget Development
Cost Benchmarking Detailed
Cost Estimating
Whole Life Costing Value & Risk Management
Procurement Bid Evaluation and Reconciliation
Cost Control & Cash Flow Forecasting
Change Order Management & Mitigation Cost Reporting
Final Account Negotiation Cost Auditing and Peer Review

COST MANAGEMENT VALUE CHAIN

Our approach to the key activities and strategies

Concept Estimate
Cost Planning & Budget Development
Feasibility Studies
Cost Benchmarking
Value and Risk Management
Design Options Estimates
Change Control & Cost Management
Cost Planning
Value Engineering
Risk Review
Cost Checking
Pre Purchase Procurement
Procurement Development
Bidding, Evaluation and Reconcilliation
Pre Bid Cost Estimate
Cost Control
Cash Flow Forecasting
Regular Cost Reporting
Change Order Management
Change Order Take Off & Estimating
Forecast change evaluation
Change Mitigation
Final Account Negotiation & Closeout
Opportunity
Programming
Design Phase
Procurement
Construction
Completion

COST MANAGEMENT APPROACH

Our team provides a full range of Cost Management services, including initial cost planning, detailed cost estimating, procurement & bidding management, change order management, financial administration and cost control of building contracts.

We provide cost management throughout the project’s life cycle. The Cost Manager will attend client, design, project and site meetings and prepare regular cost updates and advise the client of any decisions or authorizations required.

PRIMARY COST MANAGEMENT ACTIVITIES

  • Produce a robust initial cost plan in conjunction with the design team, accepted by all parties as being an achievable figure for delivery of the client’s requirements.
  • Provide cost assessments for each design option to enable the client to make fully informed decisions.
  • Benchmarking against projects of a similar nature and scope.
  • Teamwork approach includes regular and ad-hoc meetings with the designers and client to review elements of the cost plan.
  • Establish the cost drivers – we work closely with the project team to establish the brief and to capture the key drivers in relation to cost, quality, schedule, capital and life cycle costings where applicable.
  • Carry out value management exercises from delivery of brief and conceptual design to ensure the best value is being achieved at all times.
  • Instigate and utilize a strict change control procedure upon approval of a base scheme to manage all change from the approved scheme.
  • Ensure risks and opportunities are fully considered, allocated and priced at each stage, undertaking separate dedicated review exercises.
  • Constantly review the schedule and clearly establish the relationship between time and cost within the regular cost reports.